Barclays Raises Pinnacle West Capital (NYSE:PNW) Price Target to $101.00

Pinnacle West Capital (NYSE:PNW) had its target price lifted by research analysts at Barclays from $97.00 to $101.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 1.34% from the stock’s current price.

Several other research analysts have also weighed in on the company. TD Cowen lifted their price objective on Pinnacle West Capital from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Royal Bank Of Canada restated a “sector perform” rating and set a $103.00 target price on shares of Pinnacle West Capital in a research report on Friday, January 23rd. KeyCorp downgraded Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a report on Friday, December 12th. UBS Group boosted their price target on Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.92.

Pinnacle West Capital Trading Down 0.9%

Pinnacle West Capital stock traded down $0.89 during mid-day trading on Tuesday, hitting $99.66. 98,011 shares of the stock were exchanged, compared to its average volume of 1,325,686. The firm’s fifty day simple moving average is $97.84 and its two-hundred day simple moving average is $92.29. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.30. Pinnacle West Capital has a 12 month low of $85.32 and a 12 month high of $103.97. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 3.66 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.08. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. Pinnacle West Capital’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds and other institutional investors have recently modified their holdings of PNW. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Pinnacle West Capital during the third quarter worth $16,292,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Pinnacle West Capital by 164.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,748 shares of the utilities provider’s stock valued at $4,012,000 after buying an additional 27,832 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Pinnacle West Capital during the third quarter worth about $2,234,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Pinnacle West Capital by 556.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,208 shares of the utilities provider’s stock worth $1,633,000 after acquiring an additional 15,434 shares in the last quarter. Finally, AE Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 9.1% in the 3rd quarter. AE Wealth Management LLC now owns 152,331 shares of the utilities provider’s stock worth $13,658,000 after acquiring an additional 12,732 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.